DD I am not disagreeing about the thesis of the investment.
I am quibbling about the timing. I am currently having the same argument with/against a close friend with regard to the industrial cyclical sector ie natural resources, steel, mining etc ... He mentioned that some of these stocks like alcoa,united steel, arcelor is off some 80-90% from their high.
If one can buy these at the right prices one can make a tidy profit, same magnitude of gain like biotechs but a lot less risks.
I agree with him that the risk/reward ratio is just as good if not better than the biotechs. where I differ is the timing. I think he is too early.
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